EkkoSense secures MEIF funding
EkkoSense Limited (“EkkoSense”) has received a seven-figure cash injection from the Midlands Engine Investment Fund (“MEIF”), East & South East Midlands Debt Finance fund managed by Maven Capital Partners (“Maven”).
EkkoSense will use the funding to support its rapid international expansion across North America, Europe, Asia Pacific, Latin America and Africa. To aid this new level of growth, the business is adding a high number of resources to its sales, development and operational departments.
Based at the University of Nottingham Innovation Park, EkkoSense is recognised as a global leader in the provision of advanced software and sensing technologies that help organisations visualise, manage and optimise real-time performance in their data centre facilities.
Using EkkoSense’s AI-powered EkkoSoft Critical SaaS 3D visualisation and analytics platform, customers can visualise suggested cooling improvements and manage complex data centre capacity decisions – removing risk, reducing energy consumption by around a third and releasing stranded capacity.
Founded in 2013 by Dean Boyle (CEO) and Dr Stuart Redshaw (CTIO) and backed by an experienced management team, the business has successfully developed an innovative software platform used by some of the world’s largest data centre operators.
EkkoSense has previously received investment from the MEIF East & South East Mids Equity Fund, managed by Foresight Group.
Dean Boyle, CEO at EkkoSense, comments: “We’re excited to be pushing forward with our next key growth phase and this additional MEIF funding will support our plans in a number of specific areas. In 2021, we will be strengthening support for our growing global partner network, expanding sales teams in key international markets and continuing to invest heavily in our core software proposition.”
Jonathan Lowe, Investment Director for Maven adds: “We’re delighted to have provided MEIF funding to EkkoSense, which reflects our faith in its management team, impressive technology and ambitious business plan. Supporting the ever-increasing focus on driving carbon reductions across the world, EkkoSense has built an impressive client base that recognises the value that its technology can bring. The team have a strong track record in the sector, with supportive investors, and we are pleased to play our part in the next phase of growth.”
Sajeeda Rose, Chief Executive at D2N2 said “It’s good to see another D2N2 business has been able to benefit from the Midlands Engine Investment Fund. I’m delighted EkkoSense has secured the funds to expand and explore new international markets, creating new jobs and supporting our regions economic growth.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.